M&T Bank Corp Lowers Position in Coterra Energy Inc. (NYSE:CTRA)

M&T Bank Corp trimmed its position in shares of Coterra Energy Inc. (NYSE:CTRA - Free Report) by 7.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 278,680 shares of the company's stock after selling 21,530 shares during the quarter. M&T Bank Corp's holdings in Coterra Energy were worth $8,054,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of CTRA. Sterling Capital Management LLC raised its position in Coterra Energy by 5,744.3% in the 4th quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company's stock valued at $93,520,000 after buying an additional 3,599,042 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Coterra Energy by 117.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock valued at $123,036,000 after buying an additional 2,600,801 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in Coterra Energy in the 4th quarter valued at $57,877,000. Man Group plc increased its position in shares of Coterra Energy by 81.4% during the 4th quarter. Man Group plc now owns 4,842,621 shares of the company's stock valued at $123,681,000 after purchasing an additional 2,172,931 shares during the last quarter. Finally, Schroder Investment Management Group increased its position in shares of Coterra Energy by 18.2% during the 4th quarter. Schroder Investment Management Group now owns 11,776,525 shares of the company's stock valued at $300,537,000 after purchasing an additional 1,809,615 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTRA has been the subject of several research analyst reports. Wells Fargo & Company decreased their target price on Coterra Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. Mizuho decreased their target price on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research report on Tuesday, May 13th. Susquehanna decreased their target price on Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley set a $28.00 target price on Coterra Energy in a research report on Tuesday, April 15th. Finally, Raymond James Financial set a $38.00 target price on Coterra Energy and gave the company an "outperform" rating in a research report on Friday, June 13th. Four analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $33.20.

Coterra Energy Price Performance

NYSE CTRA traded up $0.20 during trading hours on Friday, hitting $25.30. The company had a trading volume of 5,662,888 shares, compared to its average volume of 6,554,627. Coterra Energy Inc. has a 52 week low of $22.30 and a 52 week high of $29.95. The firm has a 50 day simple moving average of $25.18 and a 200 day simple moving average of $26.47. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.86 and a current ratio of 0.90. The firm has a market capitalization of $19.31 billion, a price-to-earnings ratio of 14.71, a PEG ratio of 0.35 and a beta of 0.35.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.71 by $0.09. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The business had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter last year, the company earned $0.51 EPS. The firm's revenue was up 32.9% compared to the same quarter last year. Equities research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a $0.22 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.48%. Coterra Energy's payout ratio is currently 51.16%.

Coterra Energy Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.